AARP NJ Applauds Governor Murphy’s Fiscal Year 2026 State Budget Proposal to Help Older New Jerseyans Stay in their Homes and Communities

AARP supports critical property tax relief for older adults, prescription drug affordability, affordable housing, and efforts to increase financial security in retirement

TRENTON, N.J. (Feb. 25, 2025) - AARP New Jersey State Director, Chris Widelo, provided the following statement in response to Governor Murphy’s Fiscal Year 2026 state budget address:

“I applaud Governor Murphy for taking action on several AARP New Jersey priorities, including significant property tax relief, affordable housing, prescription drug affordability, and a full pension payment, by adding them to his Fiscal Year 2026 state budget proposal.

“AARP’s mission is to empower people to choose how they live as they age, and an important part of choosing how we live is being able to choose where we live. Seventy-seven percent of people 50 and older want to age in their own homes; however, New Jersey’s high cost of living, including the highest property taxes in the nation, has made it unaffordable for far too many.

“The NJ Legislature, Governor Murphy, Speaker Coughlin and Senate President Scutari have taken historic steps to keep property taxes more affordable by passing the StayNJ property tax relief program, increasing the ANCHOR refund for older homeowners and renters, and increasing the income eligibility limits for the Senior Freeze property tax relief program. With New Jersey’s high property taxes now averaging $9,800, which is up more than 3% from the previous year, the promise of significant property tax relief is more important than ever.

“StayNJ provides the kind of bold and transformational relief that so many New Jerseyans need to stay in the Garden State. We applaud the Governor’s proposal to follow through on his commitment to fully fund critical property tax relief programs like StayNJ, ANCHOR and Senior Freeze. Older New Jersey residents are counting on and planning for this property tax relief. We encourage the state legislature to fully fund these programs so that older New Jersey residents can age in the communities they call home.

“In addition to high property taxes, too many people are struggling to afford things like groceries, gas and medication. AARP commends the Governor’s proposal to continue to support two pharmaceutical assistance programs, Pharmaceutical Assistance to the Aged & Disabled (PAAD) and Senior Gold, which have helped tens of thousands of seniors afford their prescription drugs.

“AARP also applauds the Governor’s proposal to make a full pension payment for the fifth year in a row. This payment will significantly strengthen the financial health of these systems, which is critical to the retirement security of hundreds of thousands of New Jersey retirees and their families, as well as save all taxpayers money by reducing the state’s unfunded liability.

“We also support the Governor’s proposal to amend zoning and permitting laws to allow for more affordable housing throughout the state. These changes will allow for more accessory dwelling units (ADUs), which will provide an affordable, accessible housing option for people of all ages.

“On behalf of AARP New Jersey’s more than 1 million Garden State members and all older New Jerseyans, we look forward to working with the Governor and the NJ Legislature in the coming months to finalize a budget that includes AARP New Jersey’s priorities to help ensure health and financial security for all.”

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About AARP New Jersey 
AARP is the nation’s largest nonprofit, nonpartisan organization dedicated to empowering people 50 and older to choose how they live as they age. AARP New Jersey educates and advocates on behalf of those 50 and older on issues that are important to them, their families and to all Garden State residents. The organization works to strengthen New Jersey communities with a focus on health security, financial stability and personal fulfillment. To learn more, visit www.aarp.org/nj or follow @AARPNJ on social media.